Johnson Controls Cuts Third-Quarter Profit Outlook on Disruptions in Japan

Johnson Controls Inc. (JCI), the largest U.S. auto supplier, said disruptions from the Japan earthquake and tsunami will reduce third-quarter profit by as much as 18 cents a share and revenue by about $500 million.

Johnson Controls expects to earn 51 cents to 53 cents a share in the fiscal third quarter, which ends June 30, the company said in a statement today. Twenty-one analysts in a Bloomberg survey estimated profit of 67 cents, on average.

Production disruptions after the March 11 earthquake and tsunami won’t affect fourth-quarter results, and revenue and profit should be recovered from October through March, the Milwaukee-based company said. The company boosted its annual sales forecast by $1 billion to $39.5 billion because of higher than anticipated growth in its building efficiency unit.

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- Posted: 2011-04-25 10:09:26

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